ØSD Invest AS, an investment company wholly owned by Øystein Dannevig, Chief Decision Scientist in Aprila Bank ASA (Aprila), has on 20 November 2024 purchased 152,781 shares in Aprila from Øystein Dannevig. The shares were purchased at NOK 6.35 per share. After the purchase, Øystein Dannevig holds all his shares through his wholly owned investment company, a total of 1,512,781 shares in Aprila, equal to 2.1% of the share capital.
GIGNO: Partnership Extension
Company news
2024-11-19 08:02:17
GiG Software Plc (GiG or the Company)
Partnership Extension Extension of agreement with Betsson enables expansion into new and regulated markets
GiG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, is pleased to announce that it has extended its existing partnership with Betsson Group (Betsson), a leading global online gambling operator with over 20 online gaming brands (the Contract).
The Contract builds on an existing partnership established in 2022, and seeks to enhance Betssons principal Zecure brand. Going forward, GiG will deploy its innovative technology, including its cutting-edge AI ecosystem which features machine learning tools, LogicX and DataX, and industry-leading managed services, providing Betsson with highly scalable foundations from which to grow and expand.
The existing partnership previously enabled Betsson to widen its operational footprint by establishing itself in nine regulated markets. This includes Betssons recent brand launches in Serbia, Germany, and Peru.
The Contract is central to GiGs growth strategy to further leverage the Companys long-standing relationships with established global operators. By capitalising on its market-leading reputation, GiG continues to prove highly successful at helping to support opportunities for growth and expansion amongst operators through its new suite of innovative solutions.
Richard Carter, Chief Executive Officer of GiG, commented:
We are delighted to be extending our existing partnership with Betsson, a key strategic relationship we have cultivated over a number of years.
As a trusted partner, we have focused on providing a technology stack that delivers security, confidence, and flexibility, creating a solid foundation for success for one of our sectors most ambitious and discerning operators.
We look forward to driving Betssons success further as we navigate and expand into new and established regulated markets together.
Paul Murphy, Commercial Director at Betsson Group, added:
This extension to our long-established partnership is a testament to the strength of our working relationship. Our relationship so far has empowered Betssons Zecure brands to be able to provide the best gaming experience for our clients in the markets we serve.
For further information, please contact:
GiG Software PLC Richard Carter, Chief Executive Officer Phil Richards, Chief Financial Officer via Vigo Consulting / ir@gig.com
Vigo Consulting (Investor Relations) Jeremy Garcia / Kendall Hill / Peter Jacob GiG@vigoconsulting.com Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the Nasdaq First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
Betsson AB (publ) is a holding company that invests in and manages fast-growing companies within online gaming. The company is one of the largest in online gaming in Europe and has the ambition to outgrow the market, organically and through acquisitions. This should be done in a profitable and sustainable manner, and with local adaptations. Betsson AB is listed on Nasdaq Stockholm Large Cap (BETS).
Aprila Bank delivered a pre-tax profit of NOK 9.2 million and a return on equity of 13.0% in the second quarter 2024. The pre-tax profit was negatively affected by a NOK 2.7 one-off provision related to severance pay. Exluding this one-off, ROE would have been 16.8% in the quarter.
Total income reached NOK 55.1 million in the third quarter, representing a total income growth of 32% year-on-year. The annual total income run-rate reached NOK 218 million in the quarter. Loan losses amounted to NOK 15.6 million, in line with the banks expectations.
Key figures: - Gross lending increased by NOK 32 million and reached NOK 1,111 million by the end of the quarter, an increase of 29% year-on-year - Gross lending to credit line accounts increased by NOK 46 million and amounted to NOK 1,098 million at the end of the quarter, an increase of 36% year-on-year - The bank had 5,422 credit line accounts at the end of the quarter, an increase of 15% year-on-year - Cost/income was 55% in the quarter (50% excl. the one-off) and 54% for the last twelve months (52% excl. the one-off) - Return on equity was 13.0% in the quarter and 15.2% for the last twelve months
Looking ahead, we are confident that the continued adaptation of new technology, combined with the scalability of Aprilas business model, will continue to improve the banks underlying operating expenses and loan losses relative to total income. We expect this to contribute to a steady improvement of the banks return on equity over time.
The report and presentation are available on the companys website: https://www.aprila.no/investor-relations
The results will be presented in a webcast with Acting CEO Kjetil S. Barli and Acting CFO Espen Engelberg today at 10:00 CET. The presentation will be held in English. Please register your attendance using the following link: https://www.aprila.no/content/investor-relations/register.
A recording of the presentation will be made available on https://www.aprila.no/investor-relations after the presentation.
About Aprila Bank Aprila is an innovative product- and technology company offering enhanced access to financing for businesses. Aprilas API-based technology platform supports both direct customer relationships as well as customer relationships established through partners. The bank commenced operations in April 2018.
For further information, please contact:
Kjetil S. Barli Acting CEO +47 908 42 016 kjetil@aprila.no
Heder Bank ASA: Innkalling til ekstraordinær generalforsamling
Company news
2024-11-14 14:30:05
Det innkalles herved til ekstraordinær generalforsamling i Heder Bank ASA den 28. november 2024 kl. 10:00.
Møtet avholdes elektronisk eller via varslet oppmøte. Aksjonærer som ønsker å delta kan sende en e-post til camilla.kopperud@hederbank.no for påmelding.
Innkallelsen er sendt til bankens aksjonærer, men kan også lastes ned fra bankens hjemmesider.
For mer informasjon, Klaus-Anders Nysteen, styreleder, +47 992 65 691
Maritime & Merchant Bank ASA (MMBANK) Financial Report 30.09.2024
Company news
2024-11-13 15:23:46
The profit for the period 01.01.24 - 30.09.2024 before tax is USD 13 145 217 (USD 13 735 113 3Q 2023). Book value per share is USD 1.67 per 30.09.2024 (USD 1.58 3Q 2023) Earnings per share for the period 01.01.24 - 30.09.2024 before tax is USD 0.161 (USD 0.168 in 2023). There has been no credit losses and the Bank has no non-performing loans.
GIG Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, is pleased to announce its financial results for the third quarter ended 30 September 2024.
Key information relating to the cash dividend to be paid by Golar LNG Limited (Ticker: GLNG)
Company news
2024-11-12 12:30:01
Reference is made to the third quarter 2024 report released on November 12, 2024. Golar LNG Limited (Golar), NASDAQ ticker: GLNG, has declared a total dividend of $0.25 per share to be paid on or around December 2, 2024. The record date will be November 25, 2024. Due to the implementation of the Central Securities Depository Regulation (CSDR), please note the information below on the payment date for the small number of Golar shares registered in Norways central securities depository (VPS):
Dividend amount: $0.25 per share
Declared currency: USD. Dividends payable to shares registered in the VPS will be distributed in NOK
Last day including right: November 21, 2024
Ex-date: November 22, 2024
Record date: November 25, 2024
Payment date: On or about December 2, 2024. Due to the implementation of CSDR in Norway, dividends payable to shares registered in the VPS will be distributed on or about December 4, 2024.
Golar LNG Limited Hamilton, Bermuda November 12, 2024
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Interim results for the period ended September 30, 2024
Company news
2024-11-12 12:20:02
Highlights and subsequent events
Final Investment Decision (FID) for MK II 3.5mtpa FLNG for delivery within 2027.
Received reservation notice for FLNG Hilli under definitive agreements with Pan American Energy (PAE) for 20-year FLNG deployment in Argentina.
Strong progress on FLNG commercial opportunities.
Agreed commercial reset of pre-COD contract mechanisms with bp for FLNG Gimi (the commercial reset).
FLNG Hilli maintains market-leading operational track record.
Golar reports a Q3 2024 (Q3 or the quarter) Net loss of $36 million, a Net profit of $54 million excluding $90 million of market adjusted non-cash items, and Adjusted EBITDA1 of $59 million.
Adjusted EBITDA backlog1 of approximately $11 billion, including existing and redeployment charters for our existing FLNGs Hilli and Gimi, before commodity exposure.
Issued $300 million five-year senior unsecured bond.
Declared dividend of $0.25 per share for the quarter.
FLNG Hilli: Maintained market leading operational track record, generating $73 million of Q3 Distributable Adjusted EBITDA1, of which Golars share was $68 million. 122nd LNG cargo export in progress.
FLNG Gimi: Following the commercial reset reached in August 2024, Golar is now contractually entitled to receive daily payments for the period from January 10, 2024 until the Commercial Operations Date (COD). Under the new arrangements and based on the operator's latest timeline, Golar expects to receive approximately $220 million across 2024 and 2025 in pre-COD compensation inclusive of milestone bonuses, of which approximately $130 million will be invoiced in 2024. Of this, $78 million has been received in 2024 to date. This pre-COD compensation, net of $110 million of liquidated damages already paid to bp, will be deferred on the balance sheet.
Golar, bp and Kosmos Energy Ltd. agreed to use an LNG cargo to accelerate the commissioning schedule. In October 2024 the LNG carrier British Sponsor started to introduce gas to the FLNG Gimi. FLNG commissioning is now underway and will continue to utilize gas from the accelerated commissioning cargo until the bp FPSO is ready to send gas to the FLNG Gimi. Commissioning activity will then further ramp up.
Based on the latest project schedule, COD is expected within 1H 2025. COD will trigger the start of the 20-year Lease and Operate Agreement that unlocks the equivalent of around $3 billion of Adjusted EBITDA Backlog1 (Golars share) and recognition of contractual payments comprised of capital and operating elements in both the balance sheet and income statement.
The contemplated refinancing of the FLNG Gimi is progressing, targeting a new increased debt facility with a lower margin and improved amortization profile versus the current vessel debt facility and potentially releasing significant liquidity to Golar. Credit approvals are being received and detailed documentation has started. Execution of the facility will be subject to remaining credit approvals and finalizing documentation.
FLNG business development: In July 2024, Golar and PAE entered into definitive agreements for a 20-year FLNG deployment project in Argentina. The project will tap into the Vaca Muerta shale deposit in the Neuquén Basin, the world's second largest shale gas formation and is expected to commence LNG exports within 2027. The fully executed agreements include a Gas Sales Agreement from PAE for the supply of gas and an FLNG charter agreement with Golar. The definitive contracts are subject to satisfying defined conditions precedent, including an export license, environmental assessment and FID by PAE. Work on the conditions precedent is progressing with their satisfaction and FID expected within Q1 2025. PAE issued a reservation notice reserving the FLNG Hilli to the project in October 2024. This includes a reservation fee should the project not materialize, and ends Golars option to nominate an alternative FLNG to service the contract.
Hilli is expected to generate an annual Adjusted EBITDA1 of approximately $300 million, and a commodity-linked pricing element. Golar will also hold a 10% stake in recently established Southern Energy S.A., a dedicated joint venture with PAE, responsible for the purchase of domestic natural gas, operations, and sale and marketing of LNG volumes from Argentina. The management team of Southern Energy has been appointed and is now focused on securing the requisite regulatory and environmental approvals and working to attract additional Vaca Muerta gas resource owners to part-take in the project.
The FLNG Hilli project will initially utilize spare capacity in Argentina's existing pipeline network. Work to construct a dedicated pipeline connecting the FLNG terminal location directly to the Vaca Muerta shale formation is also being pursued. This could support a multi-FLNG vessel project in Argentina, including opportunities for our MKII FLNG(s).
We continue to make significant positive progress on our other FLNG commercial opportunities on the back of Golars position as the only proven provider of FLNG as a service, our market leading operational performance, our competitive construction cost advantage and the earliest available FLNG capacity globally. We are progressing commercial and technical work on FLNG projects in the Americas, West Africa, the Middle East and Southeast Asia. These commercial opportunities are at various stages of development. We target to secure a charter for our MKII FLNG within 2025. Once a charter is secured for the MKII FLNG under construction Golar will seek asset level debt financing for the unit, targeting ~4-6x contracted EBITDA.
In September 2024 Golar signed an Engineering, Procurement and Construction (EPC) agreement with CIMC Raffles (CIMC) for its first 3.5mtpa MK II FLNG. The MK II design uses the same topside equipment as its MKI FLNG predecessor but incorporates further efficiency and operability advances. Inclusive of the EPC contract, conversion vessel, yard supervision, spares, crew, training, contingencies, initial bunker supply and voyage related costs to deliver the FLNG to its operational site, the budget for the MK II FLNG conversion is estimated at US$ 2.2 billion. Of this, Golar has spent $0.4 billion as of September 30, 2024. The MK II FLNG is expected to be delivered in Q4 2027 and be the first available FLNG capacity globally.
As part of the EPC agreement, Golar has secured an option for a second MK II FLNG conversion slot at CIMC for delivery within 2028. In view of the tight global shipyard situation created by large shipping and FPSO orders, Golar sees availability of early yard slots at credible shipyards as a significant competitive and strategic advantage.
Other/Shipping: Operating revenues and costs under corporate and other items are comprised of two FSRU operate and maintain agreements in respect of the LNG Croatia and Italis LNG. The non-core shipping segment is comprised of the LNGC Golar Arctic, and Fuji LNG which is trading on a multi-month charter. Fuji LNG is expected to enter the CIMC yard at the end of her current charter in Q1 2025.
Macaw Energies has now delivered its first ISO containers to industrial customers with LNG produced from flare-to-gas at its field-testing location in Texas, US. We continue to optimize the unit to cater for fluctuating quality of the flare gas input.
Shares and dividends: As of September 30, 2024, 104.4 million shares are issued and outstanding. Golars Board of Directors approved a total Q3 2024 dividend of $0.25 per share to be paid on or around December 2, 2024. The record date will be November 25, 2024.
$74.1 million of the approved share buyback scheme of $150.0 million remains available.
Financial Summary
(in thousands of $)
Q3 2024
Q3 2023
% Change
YTD 2024
YTD 2023
% Change
Net (loss)/income
(35,969)
113,880
(132)%
65,756
28,221
133%
Net (loss)/income attributable to Golar LNG Ltd
(34,782)
92,462
(138)%
46,345
(13,946)
(432)%
Total operating revenues
64,807
67,252
(4)%
194,455
218,750
(11)%
Adjusted EBITDA 1
59,029
74,559
(21)%
181,332
241,522
(25)%
Golars share of Contractual Debt 1
1,465,334
1,171,848
25%
1,465,334
1,171,848
25%
Financial Review
Business Performance:
2024
2023
(in thousands of $)
Jul-Sep
Apr-Jun
Jul-Sep
Net (loss)/income
(35,969)
35,230
113,880
Income taxes
208
140
(159)
Net (loss)/income before income taxes
(35,761)
35,370
113,721
Depreciation and amortization
13,628
13,780
12,473
Unrealized loss/(gain) on oil and gas derivative instruments
73,691
16,050
(33,908)
Interest income
(8,902)
(8,556)
(11,509)
Interest expense
135
Losses/(gains) on derivative instruments, net
14,955
(107)
(7,018)
Other financial items, net
470
54
(318)
Net losses from equity method investments
948
2,125
983
Adjusted EBITDA 1
59,029
58,716
74,559
2024
Jul-Sep
Apr-Jun
(in thousands of $)
FLNG
Corporate and other
Shipping
Total
FLNG
Corporate and other
Shipping
Total
Total operating revenues
56,075
6,212
2,520
64,807
56,120
5,444
3,125
64,689
Vessel operating expenses
(20,947)
(7,403)
(3,373)
(31,723)
(22,765)
(5,056)
(3,453)
(31,274)
Voyage, charterhire & commission expenses
(888)
(888)
(1,711)
(1,711)
Administrative (expenses)/ income/
(568)
(6,498)
(7)
(7,073)
34
(5,882)
(4)
(5,852)
Project development expenses
(1,249)
(1,894)
(3,143)
(1,300)
(2,226)
(3,526)
Realized gain on oil and gas derivative instruments (2)
37,049
37,049
36,390
36,390
Adjusted EBITDA 1
70,360
(9,583)
(1,748)
59,029
68,479
(7,720)
(2,043)
58,716
(2) The line item Realized and unrealized (loss)/gain on oil and gas derivative instruments in the Unaudited Consolidated Statements of Operations relates to income from the Hilli Liquefaction Tolling Agreement (LTA) and the natural gas derivative which is split into: Realized gain on oil and gas derivative instruments and Unrealized (loss)/gain on oil and gas derivative instruments.
2023
Jul-Sep
(in thousands of $)
FLNG
Corporate and other
Shipping
Total
Total operating revenues
56,391
5,532
5,329
67,252
Vessel operating expenses
(17,726)
(4,813)
(2,048)
(24,587)
Voyage, charterhire & commission expenses
(150)
(540)
(690)
Administrative (expenses)/income
(354)
(8,021)
(22)
(8,397)
Project development income
(956)
(576)
29
(1,503)
Realized gain on oil and gas derivative instruments
42,484
42,484
Adjusted EBITDA 1
79,689
(7,878)
2,748
74,559
Golar reports today a Q3 net loss of $36 million, before non-controlling interests, inclusive of $90 million of non-cash losses1, comprised of:
TTF and Brent oil unrealized mark-to-market (MTM) losses of $74 million; and
A $16 million MTM loss on interest rate swaps.
The Brent oil linked component of FLNG Hillis fees generates additional annual cash of approximately $3.1 million (Golar share equivalent to $2.7 million) for every dollar increase in Brent Crude prices between $60 per barrel and the contractual ceiling. Billing of this component is based on a three-month look-back at average Brent Crude prices. During Q3, we recognized a total of $37 million of realized gains on FLNG Hilli's oil and gas derivative instruments comprised of a:
$19 million realized gain on the Brent oil linked derivative instrument of which Golar has an effective 89.1% interest;
$6 million realized gain in respect of fees for the TTF linked production of which Golar has an effective 89.4% interest; and
$12 million realized gain on the hedged component of the quarters TTF linked fees of which 100% is attributable to Golar.
Further, we recognized a total of $74 million of non-cash losses in relation to FLNG Hillis oil and gas derivative assets, with corresponding changes in fair value in its constituent parts recognized on our unaudited consolidated statement of operations as follows:
$60 million loss on the Brent oil linked derivative asset;
$2 million loss on the TTF linked natural gas derivative asset; and
$12 million loss on the economically hedged portion of the Q3 TTF linked FLNG production.
Balance Sheet and Liquidity:
As of September 30, 2024, Total Golar Cash1 was $807 million, comprised of $732 million of cash and cash equivalents and $75 million of restricted cash.
On September 5, 2024 the Company priced $300 million of senior unsecured bonds in the Nordic bond market. Proceeds net of fees and $10 million of 2021 bonds rolled into the 2024 bond amounted to $284 million. The bonds will mature in September 2029 and bear interest at 7.75% per annum. Net proceeds from the bond issue will be applied towards MK II capital expenditure, refinancing of debt and general corporate purposes.
Inclusive of the new bonds, Golars share of Contractual Debt1 as of September 30, 2024 is $1,465 million. Deducting Total Golar Cash1 of $807 million from Golars share of Contractual Debt1 leaves a debt position net of Total Golar Cash of $658 million.
Following the MKII FLNG FID, $255 million of investments in related long-lead items and engineering services were reclassified from Other non-current assets to Assets under development. Assets under development now amounts to $2 billion, comprised of $1.7 billion in respect of FLNG Gimi and $0.3 billion in respect of MKII FLNG. The carrying value of LNG carrier Fuji LNG, currently included under Vessels and equipment, net will be transferred to Assets under development when the vessel enters the shipyard in early 2025. Of the $1.7 billion FLNG Gimi investment, $630 million was funded by the current $700 million debt facility ($615 million outstanding on September 30, 2024). Both the FLNG Gimi investment and outstanding Gimi debt are reported on a 100% basis. All capital expenditure in connection with 100% owned MK II FLNG is equity financed.
Non-GAAP measures
In addition to disclosing financial results in accordance with U.S. generally accepted accounting principles (US GAAP), this earnings release and the associated investor presentation contains references to the non-GAAP financial measures which are included in the table below. We believe these non-GAAP financial measures provide investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating our business and measuring our performance.
This report also contains certain forward-looking non-GAAP measures for which we are unable to provide a reconciliation to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside of our control, such as oil and gas prices and exchange rates, as such items may be significant. Non-GAAP measures in respect of future events which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied to Golars unaudited consolidated financial statements.
These non-GAAP financial measures should not be considered a substitute for, or superior to, financial measures and financial results calculated in accordance with GAAP. Non-GAAP measures are not uniformly defined by all companies and may not be comparable with similarly titled measures and disclosures used by other companies. The reconciliations as at September 30, 2024 and for the nine months period ended September 30, 2024, from these results should be carefully evaluated.
Non-GAAP measure
Closest equivalent US GAAP measure
Adjustments to reconcile to primary financial statements prepared under US GAAP
Rationale for adjustments
Performance measures
Adjusted EBITDA
Net income/(loss)
+/- Income taxes + Depreciation and amortization +/- Impairment of long-lived assets +/- Unrealized (gain)/loss on oil and gas derivative instruments +/- Other non-operating (income)/losses +/- Net financial (income)/expense +/- Net (income)/losses from equity method investments +/- Net loss/(income) from discontinued operations
Increases the comparability of total business performance from period to period and against the performance of other companies by excluding the results of our equity investments, removing the impact of unrealized movements on embedded derivatives, depreciation, financing costs, tax items and discontinued operations.
Distributable Adjusted EBITDA
Net income/(loss)
+/- Income taxes + Depreciation and amortization +/- Impairment of long-lived assets +/- Unrealized (gain)/loss on oil and gas derivative instruments +/- Other non-operating (income)/losses +/- Net financial (income)/expense +/- Net (income)/losses from equity method investments +/- Net loss/(income) from discontinued operations - Amortization of deferred commissioning period revenue - Amortization of Day 1 gains - Accrued overproduction revenue + Overproduction revenue received - Accrued underutilization adjustment
Increases the comparability of our operational FLNG Hilli from period to period and against the performance of other companies by removing the non-distributable income of FLNG Hilli, project development costs, the operating costs of the Gandria (prior to her disposal) and FLNG Gimi.
Liquidity measures
Contractual debt 1
Total debt (current and non-current), net of deferred finance charges
During the year, we consolidate a lessor VIE for our Hilli sale and leaseback facility. This means that on consolidation, our contractual debt is eliminated and replaced with the lessor VIE debt.
Contractual debt represents our debt obligations under our various financing arrangements before consolidating the lessor VIE.
The measure enables investors and users of our financial statements to assess our liquidity, identify the split of our debt (current and non-current) based on our underlying contractual obligations and aid comparability with our competitors.
Adjusted net debt
Adjusted net debt based on GAAP measures: Total debt (current and non-current), net of deferred finance charges - Cash and cash equivalents - Restricted cash and short-term deposits (current and non-current) - Other current assets (Receivable from TTF linked commodity swap derivatives)
Total debt (current and non-current), net of: +Deferred finance charges +Cash and cash equivalents +Restricted cash and short-term deposits (current and non-current) +/-VIE consolidation adjustments +Receivable from TTF linked commodity swap derivatives
The measure enables investors and users of our financial statements to assess our liquidity based on our underlying contractual obligations and aids comparability with our competitors.
Total Golar Cash
Golar cash based on GAAP measures:
+ Cash and cash equivalents
+ Restricted cash and short-term deposits (current and non-current)
-VIE restricted cash and short-term deposits
We consolidate a lessor VIE for our sale and leaseback facility. This means that on consolidation, we include restricted cash held by the lessor VIE.
Total Golar Cash represents our cash and cash equivalents and restricted cash and short-term deposits (current and non-current) before consolidating the lessor VIE.
Management believe that this measure enables investors and users of our financial statements to assess our liquidity and aids comparability with our competitors.
(1) Please refer to reconciliation below for Golars share of contractual debt
Adjusted EBITDA backlog: This is a non-U.S. GAAP financial measure and represents the 100% basis of estimated contracted fee income for executed contracts less forecast operating expenses for these contracts. Adjusted EBITDA backlog should not be considered as an alternative to net income/(loss) or any other measure of our financial performance calculated in accordance with U.S. GAAP.
Non-cash losses: Non-cash losses comprise of impairment of long-lived assets, release of prior year contract underutilization liability, MTM movements on our TTF and Brent oil linked derivatives, listed equity securities and interest rate swaps which relate to the unrealized component of the gains/(losses) on oil and gas derivative instruments, unrealized MTM (losses)/gains on investment in listed equity securities and gains on derivative instruments, net, in our unaudited consolidated statement of operations.
Abbreviations used:
FLNG: Floating Liquefaction Natural Gas vessel FSRU: Floating Storage Regasification Unit MKII FLNG: Mark II FLNG FPSO: Floating Production, Storage and Offloading unit
MMBtu: Million British Thermal Units mtpa: Million Tons Per Annum
Reconciliations - Liquidity Measures
Total Golar Cash
(in thousands of $)
September 30, 2024
December 31, 2023
September 30, 2023
Cash and cash equivalents
732,062
679,225
727,133
Restricted cash and short-term deposits (current and non-current)
92,025
92,245
132,462
Less: VIE restricted cash and short-term deposits
(17,463)
(18,085)
(18,539)
Total Golar Cash
806,624
753,385
841,056
Contractual Debt and Adjusted Net Debt
(in thousands of $)
September 30, 2024
December 31, 2023
September 30, 2023
Total debt (current and non-current) net of deferred finance charges
1,422,399
GIGNO: First Asia Contract Win
Company news
2024-11-12 08:06:17
Gaming Innovation Group Software Plc
(GiG or the Company)
First Asia Contract Win
Key milestone achieved as GiG enters Asia via agreement with Filipino land-based casino group
Gaming Innovation Group Software Plc (First North: GiG SDB), a leading B2B iGaming technology provider, is pleased to announce that it has secured a long-term agreement with Bloomberry Resorts Corporation (Bloomberry) and its flagship brand Solaire Resorts (Solaire), one of the Philippines largest and most established land-based casino and leisure groups (the Agreement).
Bloomberry owns and operates Solaire Resort Entertainment City, the first premium/luxury hotel and gaming resort in Metro Manila, the Philippines, alongside Solaire Resort North and Solaire Online. This Filipino offering, alongside its investments in South Korea, has enabled Bloomberry to establish itself as a market-leading operator and resort developer in the Asia-Pacific region.
GiG will provide Bloomberry and the Solaire brand with access to a range of the Companys best-in-class technology solutions, enabling the group to significantly enhance its online gaming offering in the Philippines. As part of the Agreement, Bloomberry and Solaire will be able to utilise GiGs iGaming platform CoreX, and AI tools LogicX and DataX.
The Agreement, GiGs first in Asia, is a significant endorsement of the Companys innovative solutions and represents a major step in GiGs growth strategy as it aims to further its reach in regulated markets around the world.
Alongside access to CoreX, GiGs scalable iGaming platform, Bloomberry and Solaire will benefit from the Companys dynamic AI tools, DataX and LogicX. With a growing industry emphasis on AI and automation, the incorporation of the advanced machine learning models into Solaires toolkit will result in enhanced decision-making processes and rule-building, helping deliver significant increases in player acquisition and customer retention.
The online gaming market in the Philippines, particularly online gambling, continues to experience steady growth, with revenues projected to reach $865 million by 2029 and expanding at an expected compound annual growth rate (CAGR) of 4.9% between 2024-2029[1]. According to the countrys regulator, PAGCOR, the online gaming industry is set to hit over 18 million users by 2029.
Richard Carter, Chief Executive Officer at GiG, commented:
This is a landmark moment for GiG as we enter the Asian iGaming market for the first time and continue to deliver on our strategic objectives, enlarging our total addressable market. Our experience in delivering cutting-edge iGaming solutions in evolving regulatory environments, together with Bloomberry's established market presence, means GiG is poised to take full advantage of the region's growing online gaming sector.
For further information, please contact:
GiG Software PLC
Richard Carter, Chief Executive Officer
Phil Richards, Chief Financial Officer
via Vigo Consulting
Vigo Consulting (Investor Relations)
Jeremy Garcia / Kendall Hill / Peter Jacob
GIG@vigoconsulting.com
Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the NASDAQ First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
This information is information that Gaming Innovation Group Software Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 am CET on November 12, 2024.
[1] Statista, Online Gambling - Philippines, August 2024 - https://www.statista.com/outlook/amo/online-gambling/philippines
Reference is made to the N-OTC announcement published by CondAlign AS on 18 October 2024 and on 4 November 2024 regarding that Condalign need to secure additional funding to finance the current business to facilitate continued strategic discussions.
CondAlign has initiated an application period for a convertible loan to raise a minimum of NOK 6m. The convertible loan can be converted into existing preference shares at a conversion price of NOK 8.00 per preference share. The transaction is directed at 1) existing shareholders in the Company as of 15 October 2024, as registered in the VPS on 17 October 2024, in reliance on applicable prospectus exemptions who have not expressly informed the Company that they will not subscribe for the convertible loan ("Tranche 1"); and 2) an institutional offering directed towards qualified investors in accordance with applicable prospectus exemptions ("Tranche 2"). The extended application period ended at 8 November 2024 (16:00 hours CET).
Based on received applications the Board of Directors have allocated NOK 10.43m in the issuance of the convertible loan. This funding will secure time to support the current business and the ongoing strategic processes the company are engaged in.
Jacktel is pleased to announce that Haven has been successfully installed and has commenced its 10-month contract, with an optional 3 x 2-month extension, at Draupner.
CASTOR: Castor Maritime Inc. Reports Net Income of $2.8 Million for the Three Months Ended September 30, 2024 and Net income of $48.0 Million for the Nine Months Ended September 30, 2024
Mentor Medier har i 3. kvartal 2024 en omsetning på 117,7 millioner kroner og en negativ EBITDA på 1,0 millioner kroner. Det er kostnadsført 1,1 millioner i engangseffekter i kvartalet. I tilsvarende periode i 2023 var omsetningen på 117,2 millioner kroner og EBITDA på 0,9 millioner etter engangseffekter på 0,5 millioner kroner.
Akkumulert pr. 3. kvartal 2024 har Mentor Medier en omsetning på 360,3 millioner kroner, og en EBITDA på 5,5 millioner kroner. I samme periode i 2023 var omsetningen på 363,1 millioner kroner og EBITDA på 7,6 millioner kroner. Det er kostnadsført netto engangseffekter på 6,1 millioner kroner pr. 3. kvartal 2024, som først og fremst er knyttet til avviklingen av Rogalands Avis. Korrigert for engangseffekter er EBITDA på 11,7 millioner kroner, mot 8,2 millioner i tilsvarende periode i fjor. Den underliggende driften viser altså en resultatforbedring på 3,5 millioner kroner fra samme periode i fjor.
Aprila Bank ASA: Invitation to presentation of Q3 2024
Company news
2024-11-04 12:51:45
Aprila Bank ASA reports the interim results for the third quarter of 2024 on 15 November 2024. A presentation will be broadcasted live at 10:00 CET. Please register your attendance using the link below.
The presentation will be followed by a Q&A session. Questions can be submitted to ir@aprila.no prior to and during the presentation and the Q&A session.
A recording of the presentation will be made available on aprila.no/investor-relations.
Date: 15 November 2024 Time: 10:00 CET Registration link: https://www.aprila.no/content/investor-relations/register
The Q3 24 interim report and presentation will be available on aprila.no/investor-relations prior to the broadcast at 10:00.
Contact person at Aprila Bank ASA: Kjetil Barli, Acting CEO +47 908 42 016 kjetil@aprila.no
Information about the contemplated issuance of convertible debt
Company news
2024-11-04 07:59:59
Reference is made to the N-OTC announcement published by CondAlign AS on 18 October 2024 regarding that Condalign need to secure additional funding to finance the current business to facilitate continued strategic discussions.
CondAlign has initiated an application period for a convertible loan to raise a minimum of NOK 6,000,000. The convertible loan can be converted into existing preference shares at a conversion price of NOK 8.00 per preference share. The transaction is directed at 1) existing shareholders in the Company as of 15 October 2024, as registered in the VPS on 17 October 2024, in reliance on applicable prospectus exemptions who have not expressly informed the Company that they will not subscribe for the convertible loan ("Tranche 1"); and 2) an institutional offering directed towards qualified investors in accordance with applicable prospectus exemptions ("Tranche 2") expired at 17:00 hours CET on 1 November 2024.
The minimum amount of NOK 6,000,000 have been met within the end of the subscription period, but the board of directors of CondAlign have resolved to extend the application period until 16:00 hours CET on 8 November 2024 to further increase the amount.
Heder Bank ASA: Negativt resultat for tredje kvartal 2024 på MNOK 5,5
Company news
2024-10-31 12:50:04
Heder Bank ASA rapporterte en negativ egenkapitalavkastning på 9,0 % i tredje kvartal.
Resultat før tapsavsetninger var MNOK 1,0 (MNOK 2,7 i 3. kvartal 2023). Banken rapporterte en kapitaldekning på 34,6 %, en økning fra 29,2 % i 3. kvartal 2023.
Kvartalsrapporten er tilgjengelig på bankens hjemmeside.
Torghatten Aqua AS kjøper Nordland Settefisk AS
Company news
2024-10-31 10:26:55
Torghatten Aqua kjøper Nordland Settefisk Torghatten Aqua kjøper alle aksjene i Nordland Settefisk. Kjøpet er et ledd i Torghatten Aqua-konsernets satsing på landbasert oppdrett på Helgeland.
På Horvneset utenfor Sandnessjøen har Nordland Settefisk lenge planlagt å etablere et landbasert oppdrettsanlegg. Selskapet har alt tillatelse til å produsere 10,76 millioner smolt og stortsmolt. Nå kjøper Torghatten Aqua i Brønnøysund alle aksjene i Nordland Settefisk fra Sørvig Utvikling. Med på kjøpet følger tillatelsen til å drive smoltoppdrett i området.
Sterk økning
I tillegg til at vi har behov for smolt i Torghatten-konsernet på kort sikt, ser vi en sterk økning i etterspørselen etter storsmolt både på Helgeland og andre steder langs kysten. Dette gjelder både i forbindelse med endret driftsopplegg i tradisjonelt merdoppdrett, og også i kommende offshore og landbasert oppdrett, sier sjef for oppdrettssatsingen i Torghatten Aqua, Knut Bråthen. Han går umiddelbart inn som daglig leder i Nordland Settefisk
Vi ser store muligheter for å kunne utnytte de tillatelsene Nordland Settefisk har, og gleder oss til å utvikle selskapet videre. Vi inviterer potensielle kunder og andre til samarbeid, sier Bråthen.
Satser flere steder Torghatten Aqua har i lengre tid jobbet med konkrete planer om landbasert oppdrett på Helgeland gjennom Helgeland Miljøfisk og Vevelstad Settefisk. Torghatten Aqua har også en større eierpost i den landbaserte oppdretteren Bue Salmon, på Bulandet i Vestland, og er dermed en av de sentrale aktørene i Norge innenfor utvikling av landbasert oppdrett. - Kjøpet av aksjene i Nordland Settefisk er med på å realisere vår strategi og våre vekstplaner innen oppdrett. Det er viktig å understreke at satsingen på Nordland Settefisk kommer i tillegg til satsingen på Vevelstad Settefisk, Helgeland Miljøfisk og Bue Salmon, sier konsernsjef Øyvind Løvdahl i Torghatten Aqua.
Kjente kjøpere Nordland Settefisk ble etablert i 2019 og fikk innvilget settefisktillatelsen i 2021. Alle aksjene har den siste tiden vært eid av Bjørn Erik Sørvig i Leirfjord og hans familie gjennom selskapet Sørvig Utvikling. - Vi er glade for å finne en solid lokal kjøper til selskapet som har kapasitet og kompetanse til både å kunne realisere og videreutvikle selskapets planer, og bidra til å skape aktivitet og arbeidsplasser i regionen, sier Sørvig som gjennom mange år tidligere har samarbeidet med dem som nå overtar. Lokaliseringen på industriområdet Horvneset, hvor også Helgelandsbase holder til, gir Norland Settefisk god tilgang på infrastruktur som kai, vann og strøm. Det er også god dialog med Alstadhaug kommune og andre aktører om betydelig utvidelser allerede.
Fakta: Torghatten Aqua AS er et investerings- og utviklingsselskap med røtter på Helgelandskysten som driver med sjøbasert oppdrettsproduksjon, landbasert oppdrettsproduksjon, utdanning, kunnskapsutvikling og kunnskapsformidling samt rådgivning til sjømatnæringen. Selskapet er notert på EuroNext Oslo Børs NOTC www.torghattenaqua.no
Kontaktpersoner: Sjef for oppdrettssatsingen i Torghatten Aqua, Knut Bråthen: Tlf.: 915 19 164 Konsernsjef i Torghatten Aqua, Øyvind Løvdahl, 957 25 174.
GIGNO: Notice of Results and Investor Presentation
Company news
2024-10-31 08:04:49
31 October 2024
Gaming Innovation Group Software Plc
(GiG or the Company)
Notice of Results and Investor Presentation
Gaming Innovation Group Software Plc (First North: GiG SDB), a leading B2B iGaming technology company, will announce its financial results for the third quarter ended 30 September 2024 on Wednesday, 13 November 2024.
Investor Presentation
Richard Carter, Chief Executive Officer, and Phil Richards, Chief Financial Officer, will provide a presentation and Q&A for investors and shareholders via the Investor Meet Company (IMC) platform on Wednesday, 13 November 2024 at 11.00 a.m. CET / 10.00 a.m. GMT.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your IMC dashboard up until 10.00 a.m. CET / 9.00 a.m. GMT the day before, or at any time during the live presentation.
Investors can register for the presentation via the following link:
Investors who already follow GiG on the IMC platform will automatically be invited.
For further information, please contact:
GiG Software PLC
Richard Carter, Chief Executive Officer
Phil Richards, Chief Financial Officer
via Vigo Consulting
Vigo Consulting (Investor Relations)
Jeremy Garcia / Kendall Hill / Peter Jacob
GiG@vigoconsulting.com
Tel: +44 (0) 20 7390 0230
About GiG Software Plc
GiG Software is a leading B2B iGaming technology company that provides premium solutions, products, and services to iGaming operators worldwide, fully compliant with regulatory requirements. GiGs proprietary technology empowers our partners by delivering dynamic, data-driven, and scalable iGaming solutions that drive user engagement, optimise performance, and propel sustainable growth in the ever-evolving digital landscape. GiGs vision is to be the pioneering force in the iGaming industry, transforming digital gaming experiences through innovation and technology that inspire and engage players worldwide.
GiG operates out of Malta and is listed on the NASDAQ First North Premier Growth Market in Stockholm, Sweden, under the ticker GiG SDB.
INSR ASA ("INSR") annonserer med dette tilbud om tilbakekjøp av egne aksjer til alle aksjonærer i INSR om tilbakekjøp av inntil 25.000.000 aksjer i INSR i henhold til fullmakten til erverv av egne aksjer gitt på INSRs generalforsamling 28. juni 2024. Bakgrunnen for tilbudet er at INSR har i overkant av 2.500 aksjonærer hvorav rundt 2.400 aksjeeiere har en aksjebeholdning til en verdi under NOK 10.000. Formålet med tilbakekjøpstilbudet er å sikre mindre aksjeeiere likviditet og å redusere de administrative kostnadene forbundet med å ha et stort antall aksjonærer. Tilbakekjøpstilbudet kan derfor sees på som en mulighet for aksjonærene i INSR til å selge alle eller noen av deres INSR-aksjer.
Tilbudsprisen er NOK 0,25 per aksje. Akseptperioden løper fra 28. oktober 2024 kl. 09:00 (CEST) til 14. november 2024 kl. 16:30 (CEST), eller dersom INSR forlenger tilbudet, til den dato INSR bestemmer etter eget skjønn. INSR forbeholder seg retten til å akseptere aksepter som innkommer etter utløpet av akseptperioden, samt å forlenge akseptperioden en eller flere ganger, likevel slik at tilbudet maksimalt kan løpe i 6 uker fra annonsering.
Tilbudsbrevet med akseptformular vil bli sendt til alle INSR-aksjonærer med kjent adresse.
Mandatory Notification of Trade - Maritime & Merchant Bank ASA (MMBANK)
Company news
2024-10-25 11:27:23
Endre Røsjø, chair of the board of directors in Maritime & Merchant Bank ASA, has bought in total 20.419.790 shares in Maritime & Merchant Bank ASA from his 100 % owned company Centennial AS at a price of NOK 14 per share. Following the transactions, Endre Røsjø holds 20.41.790 shares in Maritime & Merchant Bank ASA.
